The state of Florida is experiencing tremendous growth. While it’s awesome that you have so many options to buy a house, this comes with a lot of responsibility. For example, you need to select the right homeowner’s insurance in Florida. Even though it’s mandated, this is something you want. After all, insurance is what gives you and your family peace of mind.
Remember, by working with the right insurance company, you can benefit from coverage for the home itself, as well as personal injury and liability coverage, all for a monthly premium that fits your budget. If you are currently looking at homeowner’s insurance in Florida, these five tips will help you decide.
Not All Insurers Are the Same – Unfortunately, many people make the mistake of not shopping around for homeowner’s insurance in Florida. They innocently assume that all policies and premiums are much the same. In truth, you can usually find significant differences between insurers. By comparing options, you can find outstanding coverage for less money than you anticipated spending.
Location Matters – Depending on where in Florida you plan to buy a house will, in part, determine the type of coverage you need, and therefore, the overall cost. For example, if you purchase a property close to the water, an insurer might require you to have flood insurance. Not only does this benefit you, but it also protects the company covering the asset with a policy.
Qualified Independent Agent – Work with an independent agent who has years of experience selling policies for homeowner’s insurance in Florida. The advantage is the agent works on your behalf to find the best policy. Sure, you can still do research, but it also helps to have a professional agent looking at what multiple companies offer and then scaling down the list specifically to meet your criteria.
Become Educated – Sometimes, people fail to understand their policy. It’s only after filing a claim they discover it’s not what they thought. Here’s a perfect example, if something gets damaged, does the insurer offer replacement cost or actual cash value? When you have to start replacing items, this is a big deal. So, talk to your agent to understand the different aspects of the homeowner’s insurance for your Florida home.
Take Advantage of Bundles – An excellent way to spend less for homeowner’s insurance in Florida is to bundle your assets. Having the same insurer cover your home, car, boat, motorcycle, business, or whatever assets you have will reduce your premium. So, when choosing an insurer, go with one that offers bundling as part of their service.
The Bottom Line
The good news is that you have some incredible options for homeowner’s insurance in Florida. By working with an independent agent and doing a little bit of research yourself, you’ll have no problem finding an excellent policy. By knowing that your residence, belongings, family members, and even pets have protection, you’ll sleep a lot better at night.
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